Crypto News
| Published On Oct 11, 2024 6:29 am CEST | By Daniel Li

Santiment Identifies 20 Digital Assets Primed for Potential Upswing

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Crypto analytics platform Santiment has identified 20 digital assets that may be poised for a rally, based on public sentiment trends. According to the platform, these assets are currently receiving a significant amount of negative sentiment across social media channels like X, Reddit, and Telegram, making them strong candidates for a potential surge.

Negative Sentiment May Signal Price Increases

Santiment’s recent analysis highlights major cryptocurrencies like Chainlink (LINK), Ethereum (ETH), Bitcoin (BTC), and Solana (SOL) as some of the top assets drawing bearish crowd narratives. Santiment explains that, historically, assets with widespread negative sentiment tend to rebound, leading to price increases. “Chainlink, Ethereum, Bitcoin, Solana, and XRP are the assets the crowd has turned the most negative on during this mild crypto slump. Coins with the most bearish crowd narratives historically have the best chance of rising,” Santiment noted.

The platform compiled a list of “20 best candidates” for an upcoming bullish run, including popular cryptocurrencies like:

  • Chainlink (LINK)
  • Ethereum (ETH)
  • Bitcoin (BTC)
  • Solana (SOL)
  • XRP
  • Optimism (OP)
  • Polygon (MATIC)
  • Cardano (ADA)
  • Filecoin (FIL)
  • Shiba Inu (SHIB)

Metrics Behind Santiment’s Predictions

Santiment’s method for selecting these digital assets is based on its proprietary “Weighted Sentiment” metric. This metric combines the social volume of an asset, collected from platforms such as X, Telegram, and Reddit, and adjusts it by comparing the ratio of positive versus negative comments. The market intelligence firm believes that this sentiment data, along with increased network activity, suggests a possible price rally.

Santiment also points to recent Bitcoin movements as a strong indicator of a potential price surge. “Our own metrics indicate a major spike in dormant activity on Bitcoin’s network to pair with $37.4 billion in on-chain volume Tuesday, the most in seven months. Historically, stagnant BTC moving back into regular circulation is a positive for future price movement.”

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Daniel Li

A day trader in cryptocurrencies and avid sports bettor himself, Daniel decided to join the team and share his expertise with the iGaming.org audience. Areas of interest are global crypto regulations and the adoption of cryptocurrency use in the world. Daniel loves to work hard and write “how to guides” related to sports betting to share his take on various topics.